Incorrect Social Security numbers. Please double-check your FAFSA to be sure your Social Security number is correct. This is a common error and very time-consuming to correct on the FAFSA.

Not using your legal name, from your Social Security card, when completing all financial aid forms.

We want your estimate to be as accurate as possible. The most common reasons for an inaccurate estimate are:

Overestimating the number of students in college. Only students enrolled at least half time in a degree or certificate-granting program may be included. Siblings in graduate school may be included in the number of students in college or household when completing the FAFSA.

Failing to report other untaxed income such as contributions to a 401(k) plan, an IRA or child support received.

Failing to include stepparent income.

Under-reporting the student's assets. Any assets in the student's name must be included (e.g. cash, bank accounts, joint accounts, trust funds or Uniform Gift to Minors).

You are required to renew your financial aid application every year. Your need is determined for one year at a time and is, therefore, subject to change from one year to the next. We strive to maintain the same award from year to year. However, there are certain factors that can cause a significant change to a financial aid award. These include: reduction of the number of students in college, change in marital status, moving off campus, studying abroad, significant changes in an expected family contribution and not making satisfactory academic progress.

Families who experience a significant change in income, marital status, loss of job or encounter special circumstances from one year to the next are encouraged to contact their financial aid counselor regarding the specific changes. In some cases there are ways that we can assist families who experience financial setbacks or other special circumstances.

If you study abroad through an approved program from Salve Regina, you are considered to be enrolled at Salve Regina for purposes of applying for federal student aid. You will receive the off-campus budget which results in a reduction in the Salve Regina grant of $1,400 per semester abroad. You are also not eligible for federal student employment.

If you choose to move off campus, there will be a change in your financial aid award. Periodically, we research the cost of living off campus to ensure that the budget is appropriate. Average off-campus living allowance is approximately $2,800 per year less than on-campus expenses, which is reflected in the off-campus budget.

If all other financial information remains approximately the same, the Salve Regina grant will be reduced by $2,800. (For example: If you have a Salve Regina grant of $5,000 as an on-campus student, your grant will be $2,200 as an off-campus student.)

Academic scholarships are not reduced when moving off-campus. (For example: If you have a Dean Scholarship of $6,000 on campus, your Dean Scholarship will still be $6,000 as an off-campus student.)

You must maintain the required cumulative GPA. At the time of acceptance, you are required to sign an agreement that sets forth guidelines for accepting the award. The cumulative GPA is evaluated at the end of each academic year. If you fall below the required cumulative GPA, a one-time extension will be granted. After the probationary semester, if you are still not maintaining the criteria, you will lose your eligibility for the academic scholarship.

Outside scholarships are considered a benefit and we do not reduce scholarships or grants, unless required by law. There are times when we may need to reduce federal need-based loans or federal work-study if an outside scholarship exceeds your need for financial aid. Other types of benefits, such as an employer's tuition benefits, are considered a resource. These resources are included prior to calculating need-based aid.

We offer academic scholarships based on merit. Merit scholarships are awarded at the time of acceptance and are based on specific criteria. They are guaranteed for four years, as long as you maintain the specific criteria from one year to the next.

A grant is a need-based award which requires the annual completion of all necessary documentation as outlined on this website. Grants are subject to change from one year to the next, if your family's need changes.

Complete the Free Application for Federal Student Aid (FAFSA) by your state's deadline. To apply for financial aid on time at Salve Regina, the federal processor must receive your completed FAFSA by March 1.

William D. Ford Direct Loans

Direct loans are federally guaranteed as long as you are enrolled at least half time during normal enrollment periods. Repayment is deferred until six months after you leave school. Need-based direct loans are subsidized, which means the government pays the interest while you are enrolled at least half time. If you do not qualify for a need-based federal loan, unsubsidized direct loans are available. Loan limits are $3,500 for freshmen, $4,500 for sophomores and $5,500 for juniors and seniors. In addition, you are allowed an additional $2,000 unsubsidized direct loan annually.

Federal Perkins and Federal Nursing Loans

These loans generally have the best terms of all loans offered in your Salve Regina financial aid package. Nursing loans are available only to eligible upperclassmen. The federal government subsidizes the 5 percent interest rate until repayment, and repayment of these loans is deferred until nine months after you leave school, drop below half time or discontinue nursing studies. If you accept, you are required to complete a master promissory note and disclosure statement.

Alternative Loans

These private loans may be used to supplement financial aid. In most cases, the student is the borrower and a co-borrower is required. Interest rates are variable, and are more costly than federal direct parent loans (PLUS). For these reasons, alternative loans should be used as a last resort when considering financing options.

A tax return transcript is a computerized printout provided directly to you by the IRS that shows line items from your tax return (Form 1040, 1040A or 1040EZ) and W-2s as they were originally filed. Please be advised that we cannot accept personal tax return copies; they do not satisfy federal verification requirements.

Living on your own does not qualify you as an independent student. Currently, you are only considered "independent" for Title IV purposes if you:

Are at least 24 years of age on or before Dec. 31 of the award year.

Are a graduate or professional student.

Are married.

Have children or dependents other than a spouse for whom you provide more than half support.

At any time since you turned age 13, were both of your parents deceased, were in foster care or were you a dependent or ward of the court.

Are serving active duty in the U.S. Armed Forces for other than training purposes.

Are a veteran of the U.S. Armed Forces.

Are an emancipated minor as determined by a state court.

Are in legal guardianship as determined by a state court.

Are an unaccompanied youth who was determined to be homeless by a school district homeless liaison, the director of an emergency shelter program or the director of a runaway or homeless youth basic center or transitional living program.